Slash interest rates and stop bond sales, ex-policymaker tells Bank of England
by Larry Elliott Economics editor from on (#69Z1D)
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The Bank of England should slash interest rates and stop selling government bonds in the wake of the turmoil in the banking sector, a former Threadneedle Street policymaker has said.
David Blanchflower, a member of the Bank's monetary policy committee during the global financial crisis of 2008, said official borrowing costs should be cut from 4% to 3% at this week's meeting.
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